Davtheram12's Journal

Where are you and where are you going?
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davtheram12
Posts: 72
Joined: Mon May 28, 2018 6:02 pm

Davtheram12's Journal

Post by davtheram12 »

Hey everyone,

I've been around for a few years and decided it was time to start my own journal. A little background on myself, I'm a 31 year old male currently living with my DW in Santa Monica, CA. I enjoy exercising, cooking, woodworking, cars and trash hunting. I was previously employed as an Exercise Physiologist for a large hospital and was doing that line of work for 6 years. Unfortunately I've been out of a job since July 2020 after the hospital decided to perform some "restructuring" because of covid-19. Interestingly enough, I was ecstatic when my supervisor called me into his office to give me the "bad news". In fact I was calming him down once I noticed how hard he was taking it. But I digress.

My original plan, before my job loss, was to continue working for that company until I retired with ~$375,000 by age 34-35. Now it's back to the drawing board and I have a few ideas how I can approach that goal.

Idea 1: Change my career and work as a carpenter for my good friends company. I've already spoken to my friend and he's on board with the idea. I do have some knowledge in construction since my father is currently a carpenter. Growing up I was exposed to many construction trades, helped my father with many home renovations and even worked for a roofing company for a short while after I graduated highschool. The idea isn't completely out of left field but I'm concerned of the many physically demanding aspects. If anything, I could give it a try and if I can't keep up, I can always resign. But that is an absolute last resort. I wouldn't want to potentially ruin a friendship because I'm fickle.

Idea 2: Find another position within the Kinesiology realm. I have plenty of experience and degrees in this arena that will help me land a job but honestly I'm a little burned out in the field. I love the material and it has helped me immensely with my own personal fitness and health goals but I might be ready for a change. With that being said, I'm not opposed to working in the field again if the opportunity presents itself but this idea is my last resort.

Idea 3: Start a cooking YouTube channel. Now this idea is way out of my comfort zone. Well not entirely but enough for me to ask myself "wtf are you thinking"?
I love cooking and have been an avid home cook for about 18 years. I do have 2 years of experience of cinematography, video editing and script writing but haven't practiced in over a decade. And I do find myself spending way too much time watching other YouTubers. I figure now that I have the extra time I could give this a shot. I'll have to figure out the logistics of this before I decide this route. This would be a large undertaking and I might be a little over my head but a guy can dream :D

Okay that's it for now. I feel that I can keep writing but I'll save some for future posts. Thanks for stopping by. :P

ertyu
Posts: 1302
Joined: Sun Nov 13, 2016 2:31 am

Re: Davtheram12's Journal

Post by ertyu »

All ideas sound reasonable. Does the time investment 3 requires allow for you to pursue it alongside 1? Because that seems like a good mix of being creative across different areas to me.

About 2: is there anything you need to do to stay current or can you pretty much rejoin the profession at any time if you want to? I am also burned out on my main professional job and even though I have the highest earning potential there, I am really not gung-ho about rejoining. On the other hand, I hope future me would have the opportunity if money runs low.

About 3: what would make your channel special? What would be your niche?

davtheram12
Posts: 72
Joined: Mon May 28, 2018 6:02 pm

Re: Davtheram12's Journal

Post by davtheram12 »

Let's talk about numbers. So I'm currently spending ~$15,000/year living in Santa Monica, CA. Listed are my monthly expenses:

Rent: 940
Electricity: 12-15
Gas: 7-10
Cellphone: 22
Internet: 25
Netflix: 8
Food + luxuries: 120-150
Car insurance: 30
Car gas: 25
Misc expenses: 15-30

My current net worth stands at ~$195,000 and have zero debt. With my current yearly expenses that puts me at ~7.7% withdrawal rate but here's the thing, I don't plan on living in a HCOL area for much longer. If I can dramatically decrease my living expenses I won't need much more money to achieve the 4%.

But here's the thing, my DW works right down the street and has a really great thing going for her with her current company. Not only does she love working there but she will need to stay with the company for another 3 years before she can be fully vested in their pension plan. So I'll have to stick to a HCOL area for a short while. Either way, that's where I currently stand.

davtheram12
Posts: 72
Joined: Mon May 28, 2018 6:02 pm

Re: Davtheram12's Journal

Post by davtheram12 »

@ertyu

I would say combining ideas 1 and 3 are a possibility but construction is so physically demanding I might be wiped out every day. I might not have the mental and physical fortitude to complete essentially another job with YouTube videos. But I've done crazier things so it's still a possibility.

I've had friends and other professional colleagues come back after a very long hiatus (months and sometimes years). Many times it's with the help of their network, which I do possess but don't heavily rely on. I suppose I could always go back to part-time teaching at the college level. The demand I'd always present in that area.

I'm having a hard time with coming up with a particular niche. My background is in traditional Mexican cooking. If my channel was specific it would likely revolve around many dishes I grew up with (e.g. picadio, tamales, chile colorado, salsas, tortillas, chile verde, sopas, etc). But I can make many other dishes from other cultures so I wouldn't want to keep things too narrow to just one culture.

classical_Liberal
Posts: 2017
Joined: Sun Mar 20, 2016 6:05 am

Re: Davtheram12's Journal

Post by classical_Liberal »

Welcome from another disillusioned health care worker.

That's some pretty impressive spending!

It kind-of sucks that you are paying a premium to live in a weather paradise, but don't get to enjoy it lately. Still, sounds like it's worth it for your wife. If you haven't been able to enjoy the normal Santa Monica beach life, how have you been spending you time?

I have zero suggestions on the income producing side, still trying to figure that one out myself.

davtheram12
Posts: 72
Joined: Mon May 28, 2018 6:02 pm

Re: Davtheram12's Journal

Post by davtheram12 »

@ classical_Liberal
Hey CL! I've read many if your posts and really appreciate your perspective on things. Working as a health car worker definitely takes a special person. I can be a little unsympathetic and its definitely exacerbated when poor management doesn't help. I should have learned that before spending 6 years in the field. Don't get me started on the additional time spent with schooling and volunteering to get through the doors :x

Thanks! I've managed to keep that level of spending for a few years now. It wasn't very difficult to make the shift since I was never a spendthrift.

Definitely paying the price in rent but not all is lost. Although I haven't been able to spend much time outside lately (even more so now with all the smoke and ash pollution from recent fires), I've been focusing on my hobbies. Cooking has been my primary focus lately. Just this past week I've learned to make bao buns, refined my pizza doughs, enhanced my marinades and improved my salsas.

Its been tough trying to figure out creative and fun methods to generate revenue. I'm no rookie to making money but I've become a little more picky about how I spend my time. It's nice not feeling the pressure to need a lot of money to cover my basic expenses.

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